UPDATE: Twitter is said to be weighing a poison pill to prevent Elon Musk from increasing his stake in the company significantly, the WSJ reported, citing a person familiar with the situation
from increasing his stake in the company significantly, the WSJ reported, citing a person familiar with the situation. The defensive strategy, also called a shareholders rights plan, make hostile takeovers more expensive and complicated for a buyer.
During an interview at a TED conference in Vancouver today, Musk suggested — as he did earlier in his letter to Twitter’s board — that free speech concerns lay behind his bid, calling Twitter the “de facto town square.” He revealed them in a letter to Twitter chairman Bret Taylor dated April 13. “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
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